20% ‘can’t pay’ monthly commitments

CLOSE to one-in-five people surveyed say they are unable to meet their monthly financial commitments. Also almost two out of three people said their household incomes have been cut this year.

This is according to a survey conducted by Friends First, which found one in five of the 1,000 surveyed have cut back on their pension contributions this year. Of these, almost half have stopped contributing to their pension altogether.

Respondents did however say that an SSIA-style pension scheme would encourage them to start a pension.